Swedish engineering steel specialist Ovako has lowered three out of its six alloying element surcharges for hot rolled bar for May. The company’s scrap surcharge for May has also been lowered continuing ferrous scrap’s seesawing price trajectory in 2020. The alloy surcharge for nickel continues its steady descent, Kallanish notes.
Ovako’s nickel surcharge falls for May for the fifth month in a row to SEK 887/tonne ($90.47/t) per 1% alloying element by weight from its April value of SEK 980/t per 1%. (The conversion rate used is that given by Ovako of SEK 1 = $0.102). This is the fifth consecutive monthly fall following four months of steady and strong increase. The surcharge for chromium rises again month-on-month by 3.2% to SEK 162/t per 1%.
The alloy surcharge for vanadium slips back for May by -4.7% to SEK 1,670/t per 1% after two months of solid increase. The manganese surcharge rises again by 2.0% to SEK 51/t per 1%.
The surcharge for silicon continues to recover after having had fallen for 21 months in a row up to December. For May it rises by 12.5% m-o-m to SEK 81/t per 1%. That for molybdenum falls back by -6.8% to SEK 1,589/t per 1% following two months of increase.
The steelmaker’s scrap surcharge for May falls back by -11.7% to SEK 1,738/t, continuing its 2020 seesaw progress. All surcharges apply from 1 May 2020, the company confirms in its listings.
These surcharges apply to deliveries of hot rolled bar only, from Ovako’s sites at Smedjebacken and Boxholm, and Hofors and Hällefors in Sweden and from Imatra in Finland. Surcharges vary for other products from Hofors and Hällefors including bars with different finishes, and tube and rings.
